During the three and six months ended June 30, 2026, we acquired seven and fourteen apartment homes, respectively, at an apartment community located in Miami, Florida, for total gross consideration of $3.5 million and $7.0 million, respectively.

During the three and six months ended June 30, 2025, we did not acquire any apartment homes or apartment communities.

During the three and six months ended June 30, 2026, we sold one apartment community, located in Redwood City, California, with 110 apartment homes for gross consideration of $73.9 million. We did not recognize a gain on disposition as its carrying value approximated its fair value.

During the three months ended June 30, 2025, we sold two apartment communities, located in San Jose, California and Minneapolis, Minnesota, for gross consideration of $283.3 million, including the assumption of $107.3 million of non-recourse property debt. The apartment community located in San Jose, California was included in our consolidated joint venture with a passive institutional investor, which is now comprised of 11 apartment communities located in California.

During the three months ended March 31, 2025, we sold three apartment communities, located in Boston, Massachusetts, Denver, Colorado, and San Diego, California, to a limited partner in the Operating Partnership for gross consideration of $155.8 million, comprised of the redemption of 2,521,132 common OP Units valued at $25.62 per unit, and $91.2 million in cash proceeds. In connection with the sale, we repaid $129.3 million of variable-rate property debt.

During the six months ended June 30, 2025, the five apartment community sales resulted in a gain on dispositions of real estate of $241.4 million.

At the end of each reporting period, we evaluate whether any apartment communities meet the criteria to be classified as held for sale. As of June 30, 2026, one apartment community, located in Miami, Florida, met the criteria to be classified as held for sale in the condensed consolidated balance sheets.

Subsequent to June 30, 2026, one apartment community located in San Mateo, California and one community located in Fort Lauderdale, Florida met the criteria to be classified as held for sale in the condensed consolidated balance sheets. We expect to sell the apartment communities located in San Mateo, California, Fort Lauderdale, Florida, and Miami, Florida during the third quarter.

The following table presents the cash distributions made from excess partnership cash to holders of record of common OP Units and LTIP units during the three and six months ended June 30, 2026 and 2025 (in thousands, except per unit data):


Distribution Date	Holder of Record Date	Distribution Amount		Distribution Paid Per Unit (1)		Source of Funds
April 29, 2026	April 15, 2026	$	29,896	$	0.20	Extraordinary funds from financing proceeds
February 23, 2026	February 9, 2026	$	45,828	$	0.30	Extraordinary funds from financing proceeds
February 12, 2026	January 29,2026	$	104,608	$	0.69	Extraordinary funds from community dispositions
June 11, 2025	June 5, 2025	$	197,974	$	1.31	Extraordinary funds from financing proceeds

(1)This represents the distribution paid per common OP unit. Holders of LTIP units are entitled to receive 2% of distributions.

The following table presents the cash distributions made from excess partnership cash to holders of record of common OP Units and LTIP units subsequent to June 30, 2026 (in thousands, except per unit data):


Distribution Date	Holder of Record Date	Distribution Amount		Distribution Paid Per Unit (1)		Source of Funds
July 31, 2026 (2)	July 17, 2026	$	83,153	$	0.55	Extraordinary funds from community dispositions and financing proceeds
July 31, 2026 (2)	July 17, 2026	$	16,500	$	0.11	Funds from ordinary income

(1)This represents the distribution paid per common OP unit. Holders of LTIP units are entitled to receive 2% of distributions.

(2)We paid a cash distribution in an aggregate amount of $99.7 million to holders of record of common OP Units and LTIP units, representing a distribution of $0.66 per common OP Unit.